https://www.taxtmi.com/caselaws?id=754693 The Tribunal dismissed the appeal concerning two additions made by the Assessing Officer. For the unexplained cash deposit of Rs. 13,85,000, the Tribunal upheld the CIT(A)'s findings that the deposits were properly recorded in business transactions. Regarding the Rs. 3,21,07,775 addition under section 68 for unexplained loans, the Tribunal agreed with the CIT(A) that the loan confirmations were valid, as they were signed by authorized representatives and supported by sufficient documentation. The Tribunal found no substantial legal questions, affirming the CIT(A)'s decisions and dismissing the appeal. en-us Mon, 10 Jun 2024 00:00:00 +0530 Fri, 28 Jun 2024 08:46:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754693 The Tribunal dismissed the appeal concerning two additions made by the Assessing Officer. For the unexplained cash deposit of Rs. 13,85,000, the Tribunal upheld the CIT(A)'s findings that the deposits were properly recorded in business transactions. Regarding the Rs. 3,21,07,775 addition under section 68 for unexplained loans, the Tribunal agreed with the CIT(A) that the loan confirmations were valid, as they were signed by authorized representatives and supported by sufficient documentation. The Tribunal found no substantial legal questions, affirming the CIT(A)'s decisions and dismissing the appeal. Case-Laws Income Tax Mon, 10 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754693